Cabinet note on FDI in rail, construction sectors cleared

Anand Mishra said all process are completed and the proposal will take final shape soon

Union Commerce and Industry Minister Anand Sharma today said the cabinet note on allowing foreign direct investment (FDI) in the railway and construction sectors has been cleared.

"Yes, we have cleared the Cabinet note on the FDI proposal in the railway and construction sectors," he said.

Sharma was in town to sign MoUs with the state government and other stakeholders for the Delhi Mumbai Industrial Corridor project.

"As far as my ministry, the nodal ministries and others are concerned, we have completed all the processes. The proposal will take a final shape soon," he added.

The Department of Industrial Policy and Promotion had proposed relaxation of FDI norms in the construction sector and 100 per cent FDI in the railway sector. "We hope liberalisation of FDI in both the sectors will be a major step," Sharma said.